Keeping you up to date on the latest data releases.
In February, nonfarm payroll employment rose by 175,000 and the unemployment rate ticked up to 6.7 percent. On the household side of the report, both the labor force participation rate and the employment-to-population ratio were unchanged at 63.0 and 58.8 percent, respectively.
On the establishment side of the report, revisions to figures from December and January combine for a total of 25,000 more jobs added than previously reported. Over the past 12 months, job growth has averaged 189,000 per month and 129,000 per month over the past three months. Sectors with the strongest gains were professional and business services (up 79,000), health and education (up 33,000), and leisure and hospitality (up 25,000). The largest employment decline was within the information sector, down 16,000, which was largely due to a drop in motion picture and sound recording. Retail trade employment fell by 4,000, led by declines in electronic, appliance, sporting goods and hobby stores. The effect of severe weather on overall employment was modest and was mostly seen within the 0.1 hour decline in the average workweek for all employees down to 34.2 hours. Meanwhile, average hourly earnings rose 9 cents to $24.31, and are up $0.52 or 2.2 percent over the past year.